Question

what are normative economic and positive economic and define economic systems? ​

Answer 1

Explanation:

Positive economics describes and explains various economic phenomena, while normative economics focuses on the value of economic fairness or what the economy should be. To put it simply, positive economics is called the "what is" branch of economics.

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Answer 2

normative economics focuses on the value of economic fairness or what the economic 'should be' or ought to be. while positive economics is based on facts and cannot be approved or disapproved.